LVMS NASCAR Weekend shows dramatic increase in economic impact

Tuesday, August 9, 2011

The 2011 NASCAR Weekend once again proved to be a huge economic windfall for the Las Vegas economy. This year’s event posted the third-highest financial impact on the community in the 14-year history of the event.

This year’s event, held March 4-6, contributed $194,699,000 to the local economy, according to figures released by the Las Vegas Convention and Visitors Authority. That represents a staggering 17.4-percent increase in economic impact over the 2010 event.

“This is tremendous news for our entire community,” said LVMS President Chris Powell. “This is a major shot in the arm for all local merchants. It’s also a great indicator that NASCAR remains strong and is a major player in Southern Nevada. This is the biggest sporting event each year in Nevada, and we’re proud of the role the speedway plays within the community.”

The survey showed that race fans attending this year’s event spent an average of $252 more per person that fans attending the 2010 event. However, ticket prices remained steady and the average rate for a room dropped by $7 per night.

“Las Vegas and NASCAR continue to have a great relationship and the annual NASCAR Sprint Cup race is the largest single-day event in Las Vegas each year,” said Rossi Ralenkotter, president and CEO of the Las Vegas Convention and Visitors Authority. “This year’s race demonstrated once again that Las Vegas continues to be a fan favorite on the NASCAR circuit and we look forward to many more years of successful events.”

The race weekend included the Kobalt Tools 400 NASCAR Sprint Cup Series race, the Sam’s Town 300 NASCAR Nationwide Series race, Stratosphere Pole Day and two nights of dirt-track racing for USAC and the World of Outlaws.

“Everyone knows that Las Vegas has the best of everything,” said Las Vegas Mayor Carolyn G. Goodman. “We have the best hotels, the world’s greatest restaurants, incredible boutique shopping and we have no equal when it comes to our entertainment lineup. I’m very happy to say that our annual NASCAR Weekend continues to be among the most exciting on the circuit providing fans with a great experience. These races have become part of the draw of Las Vegas and I look forward to many more in the years to come.”

Tickets for the 2012 NASCAR Weekend already are on sale at www.lvms.com or 1-800-644-4444.